aurora cannabis

How Canadian cannabis firms lost millions on bad greenhouse deals

Published November 2, 2020 | By Matt Lamers

When Aurora Cannabis acquired greenhouse design firm Larssen in late 2017, it was a shot across the bow of rival Canadian marijuana producers.

Aurora Cannabis looks to shore up finances with $500 million shelf offering

Published October 27, 2020

Aurora Cannabis, suffering from red ink, filed a preliminary short-form base shelf prospectus that will allow the licensed producer to raise up to $500 million over a 25-month period when finalized. The Edmonton, Alberta-based company filed the documentation with Canadian securities agencies and the U.S. Securities and Exchange Commission, according to a company news release. […]

Aurora Cannabis exits Australia’s Cann Group after $28M impairment charge

Published October 13, 2020 | By Matt Lamers

Alberta-based Aurora Cannabis sold off its stake in Australian medical marijuana company Cann Group, but the Canadian producer says it still sees promise in the Australian market. “We continue to see growth potential in this important market and will maintain active relationships with key distribution partners to enhance availability of Aurora’s portfolio of leading, high […]

Aurora Cannabis lists some Uruguay assets for sale as regional CEO departs

Published October 13, 2020 | By Alfredo Pascual

Canadian producer Aurora Cannabis has confirmed that some of its assets in Uruguay are for sale, and the CEO leading its subsidiary in the South American country is no longer with the company. Alejandro Antalich, a former chief executive of ICC Labs, departed the firm, an Aurora spokeswoman told Marijuana Business Daily. Aurora also removed […]

Aurora Cannabis execs saw raises, bonuses despite multibillion-dollar loss

Published October 2, 2020 | By Matt Lamers

Top Aurora Cannabis executives were rewarded with millions of dollars in bonuses and raises for the fiscal year ended June 30, the company disclosed, despite mass layoffs and a loss exceeding 3 billion Canadian dollars ($2.3 billion). The Alberta-based company disclosed the figures for the fiscal year in a proxy circular sent ahead of its […]

Aurora Cannabis, billionaire Nelson Peltz ‘have concluded their relationship’

Published September 28, 2020

Aurora Cannabis and billionaire investor Nelson Peltz “have concluded their relationship,” a spokeswoman for the Alberta, Canada-based company confirmed to Marijuana Business Daily. Peltz’s resignation was announced in a news release Monday along with information about the company’s annual general meeting scheduled for Nov. 12. Peltz signed on as a strategic adviser in March 2019 […]

Czech medical cannabis sales show timid growth despite insurance coverage

Published September 15, 2020 | By Alfredo Pascual

Medical cannabis sales in the Czech Republic remain largely insignificant despite health insurance coverage being in place since January 2020, new data shows. Since the beginning of the year, an average of only 5 kilograms (11 pounds) of flower has been sold per month via prescription. June and July were record months with 6 kilograms […]

Week in Review: Nature’s huge toll on cannabis growers, Illinois social equity questions, legalization efforts & more

Published September 12, 2020 | By Jeff Smith

Wildfires in the West have devastated a number of marijuana farms in Oregon, Washington state and California, while an early freeze hit Colorado, threatening outdoor marijuana and hemp cultivation. MJBizDaily takeaway: It’s too early to attach a dollar figure to the damages, but costs will be in the millions. In Colorado, it’s likely the early […]

Macedonian medical cannabis could soon be available in Germany, Poland

Published September 10, 2020 | By Alfredo Pascual

PharmaCann Polska recently became the first company to obtain EU-Good Manufacturing Practice (EU-GMP) certification to produce medical cannabis extracts at its facility in North Macedonia, according to its CEO. That brings the Warsaw-headquartered company – along with its production facilities in North Macedonia – one step closer to being able to offer its medical cannabis […]

Aurora appoints new CEO, signals revenue decline, massive write-downs

Published September 8, 2020

Aurora Cannabis has promoted Miguel Martin to CEO, while warning investors to expect declining quarterly revenue and write-downs of up to 1.8 billion Canadian dollars ($1.37 billion) when it reports fourth quarter results in two weeks. Martin, former CEO of hemp company Reliva, joined Aurora as chief commercial officer after it acquired Reliva earlier this […]

Aurora Cannabis faces lawsuit over sublingual-strip licensing agreement

Published September 3, 2020 | By Solomon Israel

Aurora Cannabis is being taken to court by CTT Pharma, a Canadian developer of drug-delivery technologies that alleges the marijuana giant is making a bad faith effort to avoid paying what it owes under a licensing agreement. A statement of claim filed Aug. 26 in the Ontario Superior Court of Justice names Aurora Cannabis and […]

Cansativa chosen as sole distributor of German-grown cannabis

Published August 20, 2020

Mörfelden-Walldorf-based Cansativa won the German distribution tender, becoming the sole distributor of all cannabis that will be grown in Germany for medical purposes during the next four years, the company announced in a news release. The company, located in the Frankfurt Rhine-Main Region, will provide logistics, wholesale and distribution services to the German Federal Institute […]